Cement News tagged under: corporate
CRC Cement Holdings to acquire 40% stake in Yunnan producer, China15 September 2015, Published under Cement NewsChina Resources Cement Holdings Ltd (CRC) has agreed to pay CNY1.51bn (US$236.9m) for a 40 per cent stake in cement producer Yunnan Kunming Iron & Steel Building Materials Group Co, in a bid to lift production capacity. The Hong Kong-listed cement manufacturer said Monday it plans to buy a minority stake in the Yunnan-based producer. Kunming Iron & Steel Holding Co, Ltd currently owns 100 per cent of Yunnan Kunming Iron & Steel Building Materials Group, a stake which will be reduced... |
Chinese ministries give nods to 37 cement, panel glass projects15 September 2015, Published under Cement NewsThe Ministry of Industry and Information Technology (MIIT) and the National Development and Reform Commission (NDRC) have given green lights to construction of 37 cement and panel glass projects in seven provinces of China, the MIIT said on Monday. The 37 projects that have already been under construction include three in Jiangsu Province, six in Fujian province, six in Hubei province, nine in Guangdong province, six in Guangxi province and one in Shaanxi province. Quite a few branches of ... |
KHD signs contracts in Russia14 September 2015, Published under Cement NewsZAB Zementanlagenbau GmbH Dessau (ZAB), Dessau, Germany, a subsidiary of KHD Humboldt Wedag International AG (KHD), Germany, has signed contracts totalling over EUR100m for equipment and services for a new cement plant with a production capacity of 4500tpd clinker. The new plant will be built in the Northern Caucasus region of Russia. |
Asia Cement issues 9M15 profit warning, China14 September 2015, Published under Cement NewsAsia Cement said it is expecting to record a net loss for the nine months ending 30 September 2015 compared to a net profit in the year-ago period. The expected loss is mainly attributable to the decrease in average selling price of the company's products and the foreign exchange loss from US dollar-denominated bank borrowings as a result of the devaluation of RMB. As a substantial portion of the Group's borrowings were US-dollar denominated which, in the past few years, had allowed ... |
ARM expects new clinker line to boost margins14 September 2015, Published under Cement NewsKenya's ARM Cement expects profitability to improve now it produces its own clinker for its east African cement plants, its managing director told Reuters on Friday. The company posted a pretax loss of KES473.5m (US$4.5m) in the first six months, which the firm blamed on unrealised foreign exchange losses associated with borrowing for its new clinker plant. Managing director Pradeep Paunrana told Reuters that the new 1.2Mta clinker plant, which began production in April, was operating at a... |
China: MCC unit to sell cement assets14 September 2015, Published under Cement NewsChina 22MCC Group Corporation Ltd, a wholly-owned subsidiary of the China Metallurgical Group Corporation (MCC), plans to sell cement assets for a combined CNY57.64m, according to the China Beijing Equity Exchange. China 22MCC Group aims to sell its 6.7379 per cent stake in Jidong Cement Luan County Corp for about CNY44.44m and its nine per cent stake in Tianjian Jidong Cement Corp for around CNY13.19m. Jidong Cement Luan County Corp is a subsidiary of Jidong Cement which holds a 67.5861pe... |
Cementos Argos included in the Dow Jones Sustainability Index for the third-consecutive year11 September 2015, Published under Cement NewsThe Dow Jones Sustainability Index has selected Cementos Argos once again as one of the three most sustainable cement companies in the world. For the third-consecutive year, the company managed to get the score necessary to be included in the World and Emerging Markets Indices. For the economic dimension, Argos obtained the highest score in the industry, nearly doubling its average score, and being the best-placed company for aspects such as transparency, compliance and conduct, risk mana... |
Steppe Cement first-half loss narrows, Kazakhstan11 September 2015, Published under Cement NewsSteppe Cement Ltd Friday said its first-half loss before tax narrowed to US$2.29m from US$6.40m in the previous year. Loss after tax totaled US$2.2m, narrower than the US$4.1m loss in the prior year. Consolidated turnover fell to US$44.7m from US$51.8m. Sales increased to 717,654t from 709,459t. The average ex-factory price decreased from 10 per cent to KZT10,797/t, due to competition from Russian companies helped by the Rouble exchange rate and the reaction of the main local factories... |
PCA expects 2015 demand to increase 5%10 September 2015, Published under Cement NewsDespite volatility in equity markets and concerns about global growth conditions, PCA Chief Economist and Group Vice President, Edward Sullivan, has said “the fundamentals in the United States are sound and should support sustained growth in construction activity.” The PCA notes that the US economy is characterised by steady and strong gains in net job creation, low inflation, low interest rates, improving business and consumer confidence all of which paints an optimistic near term outlook.... |
Indian prices rising in the north, down in the south - report10 September 2015, Published under Cement NewsJM Financial says in the past few weeks India cement prices have risen by INR50/bag in the north while they fell by INR20/bag in the south. Across India though cement prices have increased just 1.1 per cent YoY during April-July. If the divergence continues, north India-based cement makers may see a sharp rebound in profitability after four to five quarters of disappointing earnings, whereas south India-based firms may see some decline in the near-term from decent profits, the broker says.... |